10 Best Facility Management Software Service Providers for 2024

Author : Priyanka | May 29, 2024

In today’s business landscape, companies rely heavily on facility management software to facilitate their operations, boost growth, and enhance efficiency, thereby enabling them to reach their organizational goals. The adoption of computer-aided facilities management (CAFM) and integrated workplace management systems (IWMS) is significantly propelling demand for this software.

According to Kings Research's published report, the global facility management software market was recorded at $1.79 billion in 2022. The market is expected to be valued at $3.59 billion by 2030, at a CAGR of 9.29% from 2023 to 2030. The rising use of 3D printing technology emerges as an innovative technology that is exerting notable influence on the market due to its ability to develop detailed building components while reducing material waste.

With the integration of building information modeling (BIM) methodologies with 3D printing, facility management software service providers help businesses stimulate the fast development of prototypes in construction projects. Using this innovative technology, customers can collaborate on digital projects by visualizing the project elements in their physical form. Additionally, the integration of building systems and other innovative software products is simplifying data sharing and management. Overall, the future of the industry looks promising, witnessing robust growth and increasing demand for cost-effective, efficient, robust, and sustainable facility management practices.

Kings Research Highlights the Top 10 Facility Management Software Service Providers

Here are the leading 10 wound care suppliers revolutionizing the market with their innovative products, fueling its widespread growth.

1. Accruent

Accruent is a major player in the facility management software industry. It offers a range of solutions for managing facilities, including asset management, maintenance management, space management, and lease administration. Its software helps organizations streamline their operations, improve efficiency, and reduce costs. In January 2024, Accruent acquired RedEye. The acquisition brings RedEye's leadership in engineering document management systems (EDMS), its extensive customer base, and SaaS revenue into Accruent's fold. 

2. Oracle

Among the popular facility management software service providers, Oracle Corporation is known for its robust technology solutions, including software, hardware, and facility management software services. Oracle Local Governments has chosen its public safety hardware and software suite to improve efficiency and real-time situational awareness for US public safety organizations. The suite contains law enforcement documents, a dispatch command center, jail facility management software services, wearable devices, and real-time video communication tools.

3. Planon

Planon is a company that specializes in providing facility management software solutions. Its software helps organizations manage various aspects of facility management, including space management, maintenance management, asset management, and sustainability management. Planon partnered with SAP and became an SAP endorsed app for its Real Estate Management solution for SAP S/4HANA. The management solution leverages SAP Business Technology Platform (SAP BTP) services to deliver real estate and facility management solutions to customers.

4. FM:Systems

FM: Systems is one of the global robust facility management software service providers. Its software solutions are designed to improve space utilization, enhance employee productivity, and optimize facility operations. In July 2023, Johnson Controls acquired the company, enhancing its offerings for facilities and real estate professionals. The acquisition offers complementary cloud-based SaaS digital workplace management features to Johnson Controls' OpenBlue digital buildings software product line.

5. Trimble

Trimble provides comprehensive facility management software services. In 2022, Trimble announced the integration of Hilti Group's ON!Track asset management system with Trimble Viewpoint Vista, a solution within the Trimble Construction One suite. This integration allows users of Trimble's software to track the usage and placement of their tools and equipment on a job site, providing a single source of truth for users.

6. Schneider Electric

Schneider Electric is a prominent company within the realm of facility management software service providers, offering an extensive array of solutions. Its facility management software helps organizations manage various aspects of facility operations, including energy management, maintenance management, and sustainability management. Schneider Electric aims to help organizations optimize their facility operations and reduce environmental impact.

7. Jones Lang LaSalle IP, Inc.

Jones Lang LaSalle IP, Inc. is among the leading facility management service providers. It leverages technology and data-driven insights to help organizations improve operational efficiency, reduce costs, and enhance the overall user experience. With their expertise in facility management, they aim to deliver innovative solutions that meet the unique needs of their clients.

8. UpKeep Technologies, Inc.

UpKeep Technologies, Inc. specializes in providing facility management software services. Its software solutions help organizations streamline their maintenance management processes, enabling them to track work orders, schedule preventive maintenance, and manage assets efficiently.

9. IBM Corporation

IBM Corporation offers a wide range of technology solutions, including facility management software services. Its facility management software provides features such as real-time monitoring, predictive analytics, and automation capabilities. With their expertise in technology solutions, IBM aims to help organizations optimize their facility management operations and achieve better outcomes.

10. MRI Software, LLC

MRI Software, LLC, provides facility management software services. Its software solutions help organizations manage various aspects of facility operations, including space management, maintenance management, asset management, and lease management. MRI Software, LLC's facility management software is designed to improve operational efficiency, enhance decision-making, and optimize facility performance.

Key Trends in Facility Management Software Service Shaping Industry Landscape

The expansion of the construction industry is contributing to the growth of the facility management software service industry, driven by factors such as property accounting, contract management, and procurement. Facility management software service providers increasingly use Computer-Aided Facility Management (CAFM) software to enable facility managers to plan, execute, and monitor preventative maintenance, space management, asset management, and operational facility services. The industry is also focusing on sustainability and compliance, with software solutions incorporating features to track and manage carbon footprints. Overall, the emerging trends are fostering the growth of the industry.

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